Zep (ZEP) Announces Quarterly Earnings Results, Beats Expectations By $0.04 EPS
Zep (NYSE:ZEP) issued its quarterly earnings data on Wednesday. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.04, AnalystRatingsNetwork reports. The company had revenue of $182.20 million for the quarter, compared to the consensus estimate of $179.10 million. During the same quarter last year, the company posted $0.33 earnings per share.
On a related note, analysts at Zacks upgraded shares of Zep from an “underperform” rating to a “neutral” rating in a research note to investors on Monday, September 9th. They now have a $15.00 price target on the stock. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $16.50.
Shares of Zep (NYSE:ZEP) opened at 15.70 on Wednesday. Zep has a 52-week low of $11.87 and a 52-week high of $17.04. The stock’s 50-day moving average is $15.20 and its 200-day moving average is $14.98. The company has a market cap of $356.1 million and a P/E ratio of 17.72.
The company also recently announced a quarterly dividend, which is scheduled for Friday, November 1st. Investors of record on Thursday, October 17th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.27%. The ex-dividend date is Tuesday, October 15th. This is an increase from Zep’s previous quarterly dividend of $0.04.
Zep Inc, is a provider of cleaning and maintenance chemicals and related products and services. The Company produces a range cleaning and maintenance solutions for commercial, industrial, institutional and consumer customers, which include anti-bacterial and industrial hand care products, cleaners, degreasers, deodorizers, disinfectants, floor finishes, sanitizers, pest- and weed-control products, air-care products, delivery systems and automotive maintenance chemicals.
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